Roth Capital Weighs in on Acushnet Holdings Corp.'s Q2 2024 Earnings (NYSE:GOLF)

Acushnet Holdings Corp. (NYSE:GOLF - Free Report) - Roth Capital reduced their Q2 2024 earnings per share estimates for Acushnet in a note issued to investors on Tuesday, May 7th. Roth Capital analyst G. Kelly now expects that the company will earn $1.10 per share for the quarter, down from their previous estimate of $1.40. The consensus estimate for Acushnet's current full-year earnings is $3.17 per share. Roth Capital also issued estimates for Acushnet's Q3 2024 earnings at $0.86 EPS, FY2024 earnings at $2.92 EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $0.78 EPS and Q4 2025 earnings at ($0.24) EPS.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.03). The firm had revenue of $413.00 million for the quarter, compared to analyst estimates of $429.16 million. Acushnet had a net margin of 8.33% and a return on equity of 20.09%. Acushnet's revenue was down 7.7% on a year-over-year basis.

Other equities analysts have also issued research reports about the stock. Truist Financial increased their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a "hold" rating in a report on Wednesday. KeyCorp boosted their price objective on shares of Acushnet from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, January 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $66.86.

Acushnet Stock Performance

NYSE GOLF traded up $0.52 on Friday, hitting $63.99. 286,321 shares of the stock traded hands, compared to its average volume of 355,291. The business's fifty day moving average is $63.36 and its two-hundred day moving average is $61.82. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 22.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.84 and a current ratio of 2.21. Acushnet has a 12 month low of $43.62 and a 12 month high of $70.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Acushnet by 29.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,837 shares of the company's stock worth $416,000 after acquiring an additional 1,772 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Acushnet by 43.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 711 shares of the company's stock valued at $38,000 after acquiring an additional 215 shares during the period. Orion Portfolio Solutions LLC bought a new stake in shares of Acushnet during the 3rd quarter valued at $542,000. Olympiad Research LP bought a new stake in Acushnet during the 3rd quarter worth approximately $233,000. Finally, Arizona State Retirement System raised its position in shares of Acushnet by 2.0% during the 3rd quarter. Arizona State Retirement System now owns 9,590 shares of the company's stock valued at $509,000 after buying an additional 188 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Acushnet

In related news, insider Brendan J. Reidy sold 9,000 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the sale, the insider now owns 58,588 shares of the company's stock, valued at $3,778,340.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider John Francis Duke, Jr. sold 17,000 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now directly owns 130,472 shares of the company's stock, valued at $8,391,959.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value of $580,410.00. Following the transaction, the insider now owns 58,588 shares in the company, valued at approximately $3,778,340.12. The disclosure for this sale can be found here. Corporate insiders own 54.60% of the company's stock.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, June 7th. Acushnet's dividend payout ratio (DPR) is 29.86%.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.